Blackstone (NYSE:BX) Announces Earnings Results, Misses Expectations By $0.43 EPS

Blackstone (NYSE:BX) issued its quarterly earnings data on Thursday. The asset manager reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.43), Briefing.com reports. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.27 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. Blackstone’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.80 earnings per share.

Here are the key takeaways from Blackstone’s conference call:

• Blackstone reported $1.7 billion in distributable earnings for Q3, or $1.32 per share, while total AUM increased 10% year over year to approximately $1.4 trillion. Fee-related earnings rose 6%, supported by continued growth in base management and performance-related fees.
• Fundraising momentum remained strong, with $63 billion of quarterly inflows and more than $270 billion over the past 12 months. Private wealth AUM grew 15% to $330 billion, insurance AUM rose 14% to over $300 billion, and several institutional funds reached or approached hard caps.
• Management expressed strong conviction in AI infrastructure, energy, and related financing opportunities, citing severe supply constraints and rising demand for compute. Blackstone emphasized its focus on long-term contracts, investment-grade counterparties, and asset-backed or senior financing to manage risks from technological obsolescence and higher interest rates.
• The company expects a significant increase in Q4 realizations, including multiple company sales and year-end performance-fee crystallizations. Management also expects a return to double-digit annual growth in base management fees in 2027, driven by new drawdown funds, perpetual strategies, credit insurance, and BXMA.
• Higher interest rates continued to pressure real estate valuations, with wider capitalization rates causing depreciation in opportunistic real estate funds; BREP declined 3.2% in Q3. Management expects real estate management fees to remain broadly stable through year-end and into 2027, while BCRED experienced $1.4 billion of net outflows after fulfilling roughly half of redemption requests.

Blackstone Stock Performance

Shares of NYSE BX traded up $4.91 during mid-day trading on Thursday, reaching $114.48. 2,691,398 shares of the company’s stock were exchanged, compared to its average volume of 6,050,101. The firm has a 50-day moving average price of $126.05 and a two-hundred day moving average price of $124.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $85.93 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.36 and a beta of 1.59. Blackstone has a 52 week low of $101.73 and a 52 week high of $165.14.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 100,000 shares of the business’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $123.80, for a total value of $12,380,000.00. Following the transaction, the director directly owned 771,599 shares in the company, valued at $95,523,956.20. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of the stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $16.40, for a total transaction of $2,043,440.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 464,792 shares of company stock valued at $12,205,945 and have sold 4,077,276 shares valued at $37,573,644. Corporate insiders own 1.00% of the company’s stock.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone reported adjusted third-quarter earnings of $1.32 per share, exceeding the $1.26 consensus estimate, although earnings declined from $1.52 a year earlier. Blackstone Inc. Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: The firm closed its Energy Transition Partners V fund with $8.7 billion, strengthening Blackstone’s fee-generating assets and exposure to clean-energy investment. Blackstone Closes Energy Transition Fund
• Positive Sentiment: Blackstone is reportedly exploring a sale of IntraFi with Warburg Pincus at a valuation above $10 billion, which could create a sizable realization and boost investment gains if completed. Blackstone and Warburg Explore IntraFi Sale
• Positive Sentiment: Blackstone is in discussions to invest up to $500 million in India’s Accord Software Systems and is positioning itself to benefit from continued artificial-intelligence infrastructure spending. Blackstone Executive Discusses AI Buildout Debt
• Neutral Sentiment: The NFL is considering whether Blackstone and an Apollo unit may acquire minority stakes in teams. The opportunity could expand alternative-asset exposure, but discussions remain preliminary. NFL Considers Blackstone Minority Team Investments
• Negative Sentiment: On a reported basis, Blackstone posted $0.83 EPS and $3.06 billion of revenue, missing estimates of $1.26 and $3.27 billion, respectively; revenue fell 0.8% year over year. Blackstone Earnings Press Release
• Negative Sentiment: Rising interest rates are weighing on Blackstone’s core businesses, while proceeds from private-equity asset sales dropped 49%, highlighting continued exit and valuation pressure. Blackstone Core Businesses Hit by Rising Rates
• Negative Sentiment: A $1.3 billion Blackstone multifamily commercial-mortgage loan entered special servicing, signaling stress in parts of the real-estate portfolio. Blackstone Multifamily Loan Enters Special Servicing

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BX shares. BMO Capital Markets reissued an “outperform” rating and set a $130.00 price target on shares of Blackstone in a research report on Wednesday. Weiss Ratings raised shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Barclays decreased their price objective on shares of Blackstone from $128.00 to $124.00 and set an “equal weight” rating for the company in a research note on Thursday, October 8th. UBS Group dropped their target price on shares of Blackstone from $122.00 to $116.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Finally, Piper Sandler cut their target price on Blackstone from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Monday. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.35.

Blackstone Company Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.